https://www.taxtmi.com/caselaws?id=267219 The High Court of Punjab & Haryana upheld the Appellate Tribunal for Foreign Exchange's decision requiring the petitioner to pre-deposit 15% of the penalty amount and provide security for the remaining 85% as a condition for hearing the appeal. The Court found the Tribunal's directive fair and appropriate, considering the circumstances and the interest of revenue. While acknowledging the petitioner's arguable case and potential hardship, the Court dismissed the writ petitions, extending the time for depositing the amount to enable the appeals to proceed if the deposit was made within the specified timeline. en-us Mon, 05 Oct 2015 00:00:00 +0530 Mon, 02 Nov 2015 23:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267219 The High Court of Punjab & Haryana upheld the Appellate Tribunal for Foreign Exchange's decision requiring the petitioner to pre-deposit 15% of the penalty amount and provide security for the remaining 85% as a condition for hearing the appeal. The Court found the Tribunal's directive fair and appropriate, considering the circumstances and the interest of revenue. While acknowledging the petitioner's arguable case and potential hardship, the Court dismissed the writ petitions, extending the time for depositing the amount to enable the appeals to proceed if the deposit was made within the specified timeline. Case-Laws FEMA Mon, 05 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267219